Market Size of US Industrial Gas Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.79 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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United States Industrial Gas Market Analysis
The United States Industrial Gas Market size is expected to grow from 363.72 million tons in 2023 to 438.07 million tons by 2028, at a CAGR of 3.79% during the forecast period (2023-2028).
The market was negatively impacted by the COVID-19 pandemic in the region, including decreased demand and productivity, supply chain disruptions, and regional lockdowns. However, the market showed significant growth in 2021 and continued to grow in 2022.
- The resilient demand from the healthcare industry and growing prominence for specialty gases have been driving the market growth.
- However, the environmental regulations and safety issues and the outbreak of COVID-19 disease across the globe are likely to hinder the growth of the studied market.
- Ramping up of Chemical and Petrochemical Industries in Gulf Coast and Texas is likely to provide opportunities for the United States industrial gas market over the next five years.
- The atmospheric gas segment is the most dominating gas type segment for the market studied.
